Yesterday, ECB head Christine Lagarde in a public statement announced the reduction of European interest rates from the upcoming summer.
According to banking sources, interventions in the initial phase will target longer-term time deposits, which pose higher risks for credit institutions.
At present, several banks offer programs in the market with pre-agreed durations exceeding one year.
Specifically, yields reach up to:
• 1.90% for 15 months
• 2% for 18 months
• 2.05% for 24 months
Banks note that interest rates on these time deposits in these categories will start to decline relatively soon.
In this context, they emphasize that those who do not intend to explore their luck in alternative forms of savings/investment over the next two years and have surplus liquidity would do well to hurry and lock in their interest rates until 2026.
This is because reductions are expected to become widespread soon. They also add that the liquidity indicators of Greek banks are currently robust, allowing for downward adjustments in the yields of time deposits.
Source: tovima.com
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